Capital International Ltd. CA Increases Stock Holdings in Align Technology, Inc. $ALGN

Key Points

• Capital International Ltd. CA increased its stake in Align Technology by 89.3% in Q3 to 45,217 shares worth about $5.66 million, while other institutions (e.g., Capital International Investors, Norges Bank) also added large positions, leaving institutional ownership at roughly 88.43%.
• Align beat quarterly estimates (EPS $3.29 vs. $2.99; revenue $1.05B vs. $1.03B, +5.3% YoY), and several analysts raised price targets, but the consensus rating remains a "Hold" with a $198.08 average price target.
• Insider activity included EVP John Morici selling 7,969 shares (about $1.51M), reducing his holding by ~49.2%, while company insiders overall own roughly 0.66% of the stock.

Capital International Ltd. CA grew its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 89.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,217 shares of the medical equipment provider's stock after purchasing an additional 21,327 shares during the quarter. Capital International Ltd. CA owned approximately 0.06% of Align Technology worth $5,662,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Capital International Investors increased its position in shares of Align Technology by 88.6% in the third quarter. Capital International Investors now owns 3,050,373 shares of the medical equipment provider's stock worth $381,968,000 after purchasing an additional 1,433,393 shares during the last quarter. Norges Bank bought a new position in Align Technology in the second quarter worth about $155,297,000. Ninety One UK Ltd lifted its position in Align Technology by 18.3% during the third quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider's stock valued at $283,898,000 after buying an additional 350,883 shares during the period. Bank of America Corp DE boosted its holdings in Align Technology by 60.7% in the second quarter. Bank of America Corp DE now owns 786,637 shares of the medical equipment provider's stock worth $148,934,000 after acquiring an additional 297,117 shares in the last quarter. Finally, Artisan Partners Limited Partnership purchased a new stake in Align Technology during the 2nd quarter valued at about $55,061,000. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALGN has been the subject of a number of recent research reports. Mizuho boosted their price objective on shares of Align Technology from $200.00 to $215.00 and gave the company an "outperform" rating in a research report on Thursday, February 5th. Jefferies Financial Group raised their price target on Align Technology from $155.00 to $185.00 and gave the stock a "hold" rating in a research report on Thursday, February 5th. Leerink Partners boosted their price objective on Align Technology from $210.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, February 5th. Stifel Nicolaus lifted their price target on shares of Align Technology from $200.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, February 5th. Finally, Wells Fargo & Company lifted their price objective on shares of Align Technology from $181.00 to $200.00 and gave the company an "overweight" rating in a report on Thursday, February 5th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Align Technology currently has an average rating of "Hold" and a consensus price target of $198.08.

Align Technology Trading Up 0.6%

Shares of Align Technology stock opened at $175.09 on Tuesday. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $208.30. The firm has a market capitalization of $12.48 billion, a PE ratio of 30.93, a P/E/G ratio of 1.90 and a beta of 1.79. The firm's 50-day moving average price is $174.98 and its 200 day moving average price is $152.65.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS for the quarter, beating the consensus estimate of $2.99 by $0.30. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter last year, the firm earned $2.44 earnings per share. The business's revenue for the quarter was up 5.3% on a year-over-year basis. On average, sell-side analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Insider Transactions at Align Technology

In other news, EVP John Morici sold 7,969 shares of the business's stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following the completion of the transaction, the executive vice president directly owned 8,237 shares of the company's stock, valued at approximately $1,559,346.47. The trade was a 49.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.66% of the company's stock.

Align Technology Profile

Align Technology, Inc NASDAQ: ALGN pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company's signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.

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